Rush Enterprises (NASDAQ:RUSHA) Hits New 1-Year High – What’s Next?

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $77.39 and last traded at $76.9950, with a volume of 77211 shares traded. The stock had previously closed at $75.86.

Analyst Upgrades and Downgrades

RUSHA has been the subject of several recent analyst reports. Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price objective for the company. UBS Group boosted their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Stephens reissued an “overweight” rating and set a $85.00 target price on shares of Rush Enterprises in a research note on Tuesday, May 19th. Weiss Ratings cut shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Rush Enterprises currently has an average rating of “Hold” and a consensus target price of $83.67.

Rush Enterprises Stock Performance

The stock has a market cap of $6.19 billion, a P/E ratio of 24.07, a P/E/G ratio of 1.61 and a beta of 0.89. The company has a fifty day moving average price of $70.92 and a 200 day moving average price of $68.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.73 billion. On average, equities analysts expect that Rush Enterprises, Inc. will post 3.79 EPS for the current year.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.76 annualized dividend and a yield of 1.0%. Rush Enterprises’s dividend payout ratio (DPR) is presently 22.96%.

Insider Buying and Selling

In related news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the sale, the director directly owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.68% of the company’s stock.

Institutional Trading of Rush Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Rush Enterprises by 33.6% during the first quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock worth $575,000 after purchasing an additional 2,715 shares during the last quarter. AQR Capital Management LLC increased its stake in Rush Enterprises by 8.0% in the 1st quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock valued at $1,309,000 after buying an additional 1,806 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Rush Enterprises by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock worth $1,935,000 after buying an additional 1,592 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Rush Enterprises by 18.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock worth $20,851,000 after buying an additional 60,615 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of Rush Enterprises in the 1st quarter worth approximately $221,000. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.